News

IRS E-Services, Treasury Delays Implementation of New Uniform Chart of Accounts, MTO Reboots to Better Serve Business Taxpayers and more

by MICPA | Dec 12, 2017   ()

IRS e-Services Moved to Secure Access Protection Dec. 10
On Dec. 10, the IRS implemented a new, more rigorous identity proofing process for all e-Services users called Secure Access. Any e-Services user who has not previously created a Secure Access account through Get Transcript Online, IP PIN tool, View Balance or by exception processing in recent days must validate his or her identity through this more rigorous process.

This new process is not optional on the part of the IRS or its online users. The IRS has been planning this move for more than a year and is making the change to meet federal information system standards. Additionally, cybercriminals increasingly are targeting tax professionals to steal e-Services usernames and passwords, putting taxpayer data at risk.

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Treasury Delays Implementation of New Uniform Chart of Accounts
In a Daily Digest report issued Dec. 5, the Michigan Department of Treasury announced a delay in the required implementation of the new Uniform Chart of Accounts. The Chart of Accounts is required for all local units of government with fiscal years ending December 31, 2018 and thereafter. Early adoption is encouraged. The delay was based upon input from stakeholders who responded to a recent Treasury inquiry. (The original implementation date was based on a June 30, 2018 fiscal year end.)

CHART OF ACCOUNTS

MTO Reboots to Better Serve Business Taxpayers; Treasury Seeks Further Input
Over the last several months, the Michigan Department of Treasury has been doing a lot of outreach to business taxpayers and sharing information about Michigan Treasury Online (MTO). Treasury provided the attached article to keep MICPA members abreast of the changes to the MTO system and to invite continued feedback from stakeholders.

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Latest GASB Outlook Available Online
The latest issue of the Governmental Accounting Standards Board’s online newsletter features a video message from the GASB chair with a look ahead at 2018, an article on the OPEB implementation guide for employers, a GASB handy facts reference and more.

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New Resource: Videos Promote CPAs’ Role in Helping Prevent Cyber Attacks
A set of videos is now available to you to help promote CPAs’ cybersecurity services. The  first video is aimed at individuals outside the accounting profession, such as clients or those in the C-suite, who may be unaware of the tremendous value CPAs can bring in cybersecurity protection. The second video is slightly longer and can be used by CPAs and firms interested in providing cybersecurity services to existing clients. Members may consider sharing these videos through social media and communications channels.

ICYMI: Shark Tank Star Robert Herjavec Talks Cybersecurity
How can you protect your clients and organizations from cyberattacks? Watch global cybersecurity expert and Shark Tank star Robert Herjavec discuss emerging threats, new defenses and the important role CPAs play in cybersecurity. This free archived webcast also provides a unique opportunity for you to discuss cybersecurity with your clients or C-suite.

 WATCH NOW 

Two Simple Tips to Avoid Email Attacks
It is particularly important for CPAs and their staff members to be cautious when opening attachments or clicking links in emails. First, hold your cursor over the link to see the URL before clicking on it. Also, look closely at the full email address of the sender. The IRS has an education series called “Don’t Take the Bait” with descriptions of ten variations of phishing scams the agency has seen.

Don’t Take the Bait 

6 Keys to Delegating More Effectively
Ever caught yourself thinking: By the time I explain it to someone, I could have just done it myself? Delegating is a skill that can have exponential impact on an organization’s productivity. Learn tips to improve this skill in this CGMA Magazine article.

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Vacation Trends By City: How U.S. Workers Will Spend The Last Week of the Year
U.S. workers will not leave work very far behind – if at all – during the week of December 25, according to Robert Half's holiday survey. Eighteen percent of workers plan to work the entire week. Of the 67 percent of workers who will take at least part of Christmas week off, 64 percent will check in with the office while they're out. And, 35 percent of workers will leave vacation days on the table.

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Source: MICPA
Source: MICPA

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